1MDB makes payment to IPIC

Najib Razak KL2017

Najib Razak KL2017

"This allowed 1MDB to pay US$350 mil (RM1.5bil) to IPIC as part of the settlement", he added.

Earlier this week, Abu Dhabi once again extended a deadline for troubled Malaysian fund 1MDB, the subject of allegations of fraud and money-laundering, to make a $603 million debt payment, provided at least $310 million was paid by August 12.

1MDB was initially due to make a payment to IPIC by the end of July and had been given an extension period of five business day to remedy their non-payment.

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"The balance of the original July 31, 2017, payment obligation to IPIC is accordingly now due on August 31, 2017".

Missed payments by 1MDB are a concern for foreign investors, who own a significant share of government bonds in the South-east Asian nation.

Malaysiakini has contacted 1MDB president Arul Kanda Kandasamy for a response to these allegations.

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The Malaysian fund, founded by Prime Minister Najib Razak, is facing money laundering probes in at least six countries including the United States, Switzerland and Singapore.

The U.S. Justice Department is conducting a criminal probe into 1Malaysia Development Berhad (1MDB) and has asked for a stay on its civil lawsuits in connection with $1.7 billion in assets allegedly bought with money stolen from the scandal-hit state fund.

Low allegedly also gave a US$3.2 million Picasso painting to actor Leonardo DiCaprio, who played the lead in "The Wolf of Wall Street", a movie the USA says was financed by Riza Aziz, a stepson of Malaysian Prime Minister Najib Razak, using misappropriated 1MDB funds.

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